The stadium is named for former Longhorns coaches Billy Disch and Bibb Falk. Beginning August 1, 2006, the name of the stadium was changed to UFCU Disch–Falk Field, following a sponsorship deal with a local credit union, University Federal Credit Union.

In July 2005, the University announced an $18 million renovation project for Disch-Falk Field. Construction began in late 2006. The Longhorns played their 2007 season at the stadium during the renovation, although a few early season games and the NCAA Regional Tournament were moved to the nearby Dell Diamond. Completed for the 2008 season, the renovated Disch-Falk field was designed by architectural firm DLR Group. The renovations included:

During the 2005 season, the scoreboard in left-center field, which was installed in 1989 and upgraded in 1996, was completely dismantled. A new scoreboard with a full-color video screen was erected in its place.

October 12, 2005, the University announced a $13.1 million gift from University Federal Credit Union as the major gift in the campaign to finance the renovation of the ballpark. In connection with this gift, the name of the stadium changed to UFCU Disch–Falk Field on August 1, 2006.